(Photo credits: SolarPower Europe)
SolarPower Europe in collaboration with the African-EU Renewable Energy Cooperation Programme (RECP) organised a half-day workshop to address financing at the Intersolar Europe in Munich, Germany. A total of 90 participants participated in the workshop.
Solar PV, like many other renewables, is a capital-intensive technology with high up-front costs. This makes solar PV projects particularly sensitive to the cost of capital and investor confidence in a country. Small differences in cost of capital can lead to large jumps in the levelised cost of electricity (LCOE).
The workshop addressed ways of ensuring that risks are mitigated and boost investors confidence that they will see their money back when investing in solar PV in sub-Saharan Africa, how to deal with currency, offtakes and technical risks in a way that allows projects to go forwards and critically, how to make leverage development finance institution money to make projects across Africa viable.
For a region predicted to be at 2 billion people by 2050, it was critical to discuss how to bring down the cost of financing and scale up renewables in the African sun belt.
The official side event was followed by a networking drinks reception at the SolarPower Europe booth which was kindly supported by RECP, Global Solar Council (GSC) and BSW Solar.
• Markus Schwaninger, CFO, ecoligo
• Alexander Huppertz, Project Manager, RECP
• Abraham Cambridge, Founder and CEO, the SunExchange
• Stefan Degener, Managing Director & Head of Business Development Europe, Turkey & Africa, First Solar
• Segun Adaju, President, REAN
• Andrew Gilbert, Head of Sales Sub Saharan Africa, Jinko Solar